Debt Covenants definition

Debt Covenants means restrictions written into banking facilities and senior notes and loan agreements that prohibit the Company from taking certain actions that may negatively impact the interest of its lenders;
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Debt Covenants means the financial covenants contained in Sections 10.2(11)(a) and 10.2(11)(b) of the Restated Credit Agreement by and among the Company, Royal Bank of Canada, and the Lenders named therein, dated as of October 5, 2017, and as amended from time to time.
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Examples of Debt Covenants in a sentence

  • Subject to any Debt Covenant(s) to which the Company at the time may be bound, the Company shall distribute to all of the Members, in proportion to their respective Membership Interests, all or any portion of its Available Cash at such times and in such amounts as shall be determined by the Managing Member.

  • Such Special Stockholder Voting Rights shall be reinstated (as to any action of the Company thereafter being proposed) at the earlier of the time at which the Company (a) achieves the Performance Hurdles or (b) no longer reasonably believes it will be in default of the Senior Debt Covenants, as certified in writing to HMTF by the chief financial officer of the Company.

  • Subject to any Debt Covenant(s) to which the ------------- Partnership at the time may be bound, the Partnership may distribute to Partners, in proportion to their respective Partnership Interests, all or any portion of its Available Cash at such times and in such amounts as shall be determined by the Managing Partner.

  • Until the Termination Date, the Investor hereby waives its rights to consent to any Future Debt Incurrences by the Company that would otherwise be subject to the approval rights of the Investor pursuant to the Debt Covenants and the Investor hereby waives any notice rights pursuant to the Debt Covenants in connection with any such Future Debt Incurrences.

  • Debt Covenants Certain of the Company's subsidiaries' loan agreements contain restrictive covenants which limit the subsidiaries' ability to enter into arrangements for the acquisition of property and equipment, investments, mergers and the incurrence of additional debt.

Related to Debt Covenants

  • Negative Covenants means any negative or similar restrictive covenant (including, without limitation, under Article 7) made by the Borrowers in this Agreement or in any other Loan Document.

  • Financial Covenants means the covenants set forth in Section 6.2.

  • Affirmative Covenants The following affirmative covenants, among others, if any, to be negotiated in the Senior Facilities Documentation, will apply (to be applicable to the Borrower and its restricted subsidiaries), subject to customary (consistent with the Documentation Precedent) and other baskets, exceptions and qualifications to be agreed upon: maintenance of corporate existence and rights; performance and payment of obligations; delivery of annual and quarterly consolidated financial statements (accompanied by customary management discussion and analysis and (annually) by an audit opinion from nationally recognized auditors that is not subject to any qualification as to scope of such audit or going concern) (other than solely with respect to, or resulting solely from an upcoming maturity date under any series of indebtedness occurring within one year from the time such opinion is delivered) (with extended time periods to be agreed for delivery of the first annual and certain quarterly financial statements to be delivered after the Closing Date) and an annual budget (it being understood that the public REIT reporting that includes the Borrower shall satisfy the Borrower’s reporting obligations so long as it includes a consolidating income statement and balance sheet for the Borrower); delivery of notices of default and material adverse litigation, ERISA events and material adverse change; maintenance of properties in good working order; maintenance of books and records; maintenance of customary insurance; commercially reasonable efforts to maintain ratings (but not a specific rating); compliance with laws; inspection of books and properties; environmental; additional guarantors and additional collateral (subject to limitations set forth under the captions “Guarantees” and “Security”); further assurances in respect of collateral matters; use of proceeds; and payment of taxes.

  • Additional Senior Debt Parties means, with respect to any series, issue or class of Additional Senior Debt, the holders of such Indebtedness, the Representative with respect thereto, any trustee or agent therefor under any related Additional Senior Debt Documents and the beneficiaries of each indemnification obligation undertaken by the Borrower or any Guarantor under any related Additional Senior Debt Documents.

  • Financing Conditions means the conditions precedent to the Debt Financing explicitly set forth in the Debt Commitment Letter as in effect on the date hereof or as amended in accordance with the terms hereof.